Balboa Wealth Partners Makes New Investment in Axon Enterprise, Inc. (NASDAQ:AXON)

Balboa Wealth Partners bought a new stake in Axon Enterprise, Inc. (NASDAQ:AXON) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 492 shares of the biotechnology company’s stock, valued at approximately $292,000.

A number of other hedge funds have also recently made changes to their positions in the company. Prestige Wealth Management Group LLC boosted its position in Axon Enterprise by 115.8% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 82 shares of the biotechnology company’s stock worth $33,000 after buying an additional 44 shares during the period. New Wave Wealth Advisors LLC acquired a new position in shares of Axon Enterprise during the fourth quarter worth $40,000. Brooklyn Investment Group bought a new stake in shares of Axon Enterprise in the third quarter worth $41,000. Y.D. More Investments Ltd bought a new position in Axon Enterprise during the 4th quarter worth $45,000. Finally, Planning Capital Management Corp raised its position in Axon Enterprise by 83.3% during the 3rd quarter. Planning Capital Management Corp now owns 121 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 55 shares during the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON opened at $534.56 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 2.96. The company has a market capitalization of $40.96 billion, a P/E ratio of 138.13, a price-to-earnings-growth ratio of 5.17 and a beta of 1.12. Axon Enterprise, Inc. has a fifty-two week low of $273.52 and a fifty-two week high of $715.99. The company’s 50-day moving average is $595.56 and its 200 day moving average is $532.90.

Insider Transactions at Axon Enterprise

In related news, Director Caitlin Elizabeth Kalinowski sold 450 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $604.07, for a total transaction of $271,831.50. Following the sale, the director now directly owns 6,929 shares in the company, valued at approximately $4,185,601.03. This represents a 6.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey C. Kunins sold 1,370 shares of Axon Enterprise stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $639.14, for a total value of $875,621.80. Following the completion of the transaction, the insider now owns 125,950 shares of the company’s stock, valued at approximately $80,499,683. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,146 shares of company stock worth $3,262,847 in the last quarter. Insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Northcoast Research cut Axon Enterprise from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 19th. TD Cowen assumed coverage on Axon Enterprise in a report on Wednesday, January 8th. They set a “buy” rating and a $700.00 price target for the company. Craig Hallum downgraded shares of Axon Enterprise from a “buy” rating to a “cautious” rating in a research report on Monday. The Goldman Sachs Group upped their price target on Axon Enterprise from $500.00 to $700.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Barclays reaffirmed a “hold” rating on shares of Axon Enterprise in a research note on Monday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $604.67.

About Axon Enterprise

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.